Insider Buying: Tectonic Therapeutic (NASDAQ:TECX) CFO Acquires 4,617 Shares of Stock

Tectonic Therapeutic (NASDAQ:TECX) CFO Daniel Lochner purchased 4,617 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average cost of $54.14 per share, with a total value of $249,964.38. Following the completion of the transaction, the chief financial officer now directly owns 4,617 shares in the company, valued at $249,964.38. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Tectonic Therapeutic Stock Performance

NASDAQ TECX traded down $6.15 on Friday, hitting $36.45. 337,569 shares of the stock traded hands, compared to its average volume of 469,099. The firm has a market capitalization of $537.64 million, a price-to-earnings ratio of -6.19 and a beta of 2.62. The business’s fifty day moving average is $45.51 and its two-hundred day moving average is $34.25. Tectonic Therapeutic has a 12 month low of $13.80 and a 12 month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). Analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on TECX shares. Wells Fargo & Company increased their target price on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Leerink Partners lifted their target price on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Raymond James began coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tectonic Therapeutic presently has an average rating of “Buy” and a consensus price target of $80.50.

Hedge Funds Weigh In On Tectonic Therapeutic

Several hedge funds have recently made changes to their positions in TECX. Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic during the 4th quarter valued at $228,000. Charles Schwab Investment Management Inc. bought a new stake in Tectonic Therapeutic during the fourth quarter valued at $218,000. China Universal Asset Management Co. Ltd. purchased a new position in Tectonic Therapeutic during the fourth quarter worth about $144,000. Clarius Group LLC bought a new position in Tectonic Therapeutic in the 4th quarter worth about $468,000. Finally, Exome Asset Management LLC raised its holdings in shares of Tectonic Therapeutic by 12.2% in the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,955 shares in the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Tectonic Therapeutic Company Profile

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.